Varma Mutual Pension Insurance Co Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Varma Mutual Pension Insurance Co trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,872 shares of the Internet television network’s stock after selling 9,226 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Netflix were worth $48,505,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. M&G Plc acquired a new position in Netflix during the first quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd increased its holdings in shares of Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Netflix during the fourth quarter worth approximately $9,513,000. Summitry LLC boosted its stake in Netflix by 12.2% during the fourth quarter. Summitry LLC now owns 69,543 shares of the Internet television network’s stock worth $33,859,000 after buying an additional 7,579 shares during the last quarter. Finally, Bedel Financial Consulting Inc. purchased a new stake in Netflix in the 4th quarter valued at $224,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 2.6 %

Shares of NFLX stock traded down $17.85 during trading hours on Friday, reaching $665.77. 2,991,265 shares of the stock were exchanged, compared to its average volume of 3,796,436. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $711.33. The business’s fifty day moving average is $659.89 and its two-hundred day moving average is $634.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $286.95 billion, a P/E ratio of 46.20, a P/E/G ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the previous year, the company earned $3.29 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, research analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Activity

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now owns 85 shares in the company, valued at $57,878.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,831 shares of company stock worth $102,721,884. 1.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Macquarie reissued an “outperform” rating and set a $685.00 price target on shares of Netflix in a research report on Tuesday, July 16th. Oppenheimer reiterated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Tuesday, July 30th. Argus raised their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Wedbush reiterated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Monday, May 20th. Finally, Jefferies Financial Group increased their price objective on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.